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Author Topic: !<~~~~~[BAT] BatCoin - The Reincarnation [Stay tuned] ~~~~~>!  (Read 234052 times)
kke
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January 10, 2014, 12:41:23 AM
Last edit: January 10, 2014, 12:51:27 AM by kke
 #281

the double did not worked for the premine
also the first couple blocks gone to the cyberspace,
and as i said
we are giving a lot away
first dice game is probably coming soon Smiley

That dice game should have atleast -50% house edge. If it has any house edge, you're not giving anything away, you're profiting from running the game.

So let's put this premine into perspective:

- After all the x2 blocks have been mined there's still only about 13 million non-premine coins in circulation.

- Doge is now at block 49386 and has been around for a few days. It has been one of the most mined altcoins the whole time it has existed, peaking around like 30gh/s.

- With Batcoin's block reward, after 49386 mined blocks there will only be 2,963,160,000 non-premined coins in circulation. Only slightly more than the premine. Batcoin will not be mined 30gh/s.

- The current top hasher at minersbest with 18mh/s rig is estimated to make 2 million bats a day. It would take him 500 days to mine a billion bats if the difficulty would remain at the current level. It will not.

- If the coin stays alive at all, the number of non-premined coins will beat the number of premined coins in few years.

- If the price of 1 bat was even 0.00000001 LTC, you would net $500+ if you could manage to get it all sold. If it was 1 BTC satoshi, you would make $20,000+.

By performing a ridiculously huge premine like this, you're just screwing up the coin for everyone. What do you think the exchanges will think when considering adding your coin and there's this guy with 99,9% of the coins in circulation waiting for anyone dumb enough to place a buy order. You have enough coins to clear the buy order table few times a day for a long long time. You have ruined the balance of supply/demand.

Doge has been perhaps the most successful altcoin since litecoin. The value vs btc has been really stable, a straight line since the launch. It's still profitable to mine it. Doge was not premined at all. When trying to replicate doge's success, replicate the no premine part of it.

Nothing more to add. /rant.

Edit: well I do have this to add:

Giving the premined coins away for free is pretty close to stealing money from the miners. You artificially increase the supply of coins in the market. More supply, less demand. With 99.9% of the coins in circulation, you're not just some random rich dude, you're the world bank. When you release more coins into circulation you're creating inflation.
ScoobyDood
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January 10, 2014, 12:42:21 AM
 #282

Quote
why is there a big difference in pool estimates?
bat.webcoin    2kh= 700K bat
bat.minersbest 2kh= 16M

That's because minersbest has over 12x more hash power (14mh/s vs 170mh/s).


haha, that just makes me have more questions...Am I losing coins by being in the smaller pool?

no the estimated coins per day are on every pool the same.
a big pool finds many blocks, but because of the big pool-hashrate you will get only a small amount of the reward.
a small pool finds few blocks, but because of the low pool-hashrate you will get bigger rewards.

Ahh, makes sense. Thank you Sir.

poop
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January 10, 2014, 12:43:04 AM
 #283

the double did not worked for the premine
also the first couple blocks gone to the cyberspace,
and as i said
we are giving a lot away
first dice game is probably coming soon Smiley

That dice game should have atleast -50% house edge. If it has any house edge, you're not giving anything away, you're profiting from running the game.

So let's put this premine into perspective:

- After all the x2 blocks have been mined there's still only about 13 million non-premine coins in circulation.

- Doge is now at block 49386 and has been around for a few days. It has been one of the most mined altcoins the whole time it has existed, peaking around like 30gh/s.

- With Batcoin's block reward, after 49386 mined blocks there will only be 2,963,160,000 non-premined coins in circulation. Only slightly more than the premine. Batcoin will not be mined 30gh/s.

- The current top hasher at minersbest with 18mh/s rig is estimated to make 2 million bats a day. It would take him 500 days to mine a billion bats if the difficulty would remain at the current level. It will not.

- If the coin stays alive at all, the number of non-premined coins will beat the number of premined coins in few years.

- If the price of 1 bat was even 0.00000001 LTC, you would net $500+ if you could manage to get it all sold. If it was 1 BTC satoshi, you would make $20,000+.

By performing a ridiculously huge premine like this, you're just screwing up the coin for everyone. What do you think the exchanges will think when considering adding your coin and there's this guy with 99,9% of the coins in circulation waiting for anyone dumb enough to place a buy order. You have enough coins to clear the buy order table few times a day for a long long time. You have ruined the balance of supply/demand.

Doge has been perhaps the most successful altcoin since litecoin. The value vs btc has been really stable, a straight line since the launch. It's still profitable to mine it. Doge was not premined at all. When trying to replicate doge's success, replicate the no premine part of it.

Nothing more to add. /rant.



the dice game is not ours, we paid for the service providing, thats it
so please, no harsh feelings for us on how it will be ran



account has been hacked and ownership has been restored! this act has reincarnated us so stay tuned for updates!
bumblebee101
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January 10, 2014, 12:50:27 AM
 #284

thanks! AkkU2sViVF9r4Vbg7qchzqGTCdqtho2JLb
lucidite
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January 10, 2014, 12:51:50 AM
 #285

Signature present, thank you kindly good sir  Cheesy

B2Naca1hWSf1wjEb3ehwmPqbgmwvcBvHrV
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January 10, 2014, 01:01:14 AM
 #286

B38mRKzNmZffjfzYQFRCuJ4WtGEhQpne55

Signature updated. Thanks!
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January 10, 2014, 01:03:43 AM
 #287

with such huge premine. the OP is forced to give away a lot. hence i will wait for them. why mine. when i can easy get double of it via giveaways.
tyson187
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January 10, 2014, 01:04:31 AM
 #288

what will be the Special reward on block 1337
why block 1337 ?
bitwho
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January 10, 2014, 01:06:08 AM
 #289

what will be the Special reward on block 1337
why block 1337 ?

maybe signs of leet?  or bat sings 33.
kke
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January 10, 2014, 01:10:59 AM
 #290

with such huge premine. the OP is forced to give away a lot. hence i will wait for them. why mine. when i can easy get double of it via giveaways.

Adding signature to your posts is currently worth two hours of hashing at 1mh/s.

what will be the Special reward on block 1337
why block 1337 ?

13 370 000.

Code:
  if(nHeight == 1337)
    return 13370000*COIN; //the 1337 block

That's 222 X the normal block reward. Ten times more than what you can mine in a day at 20mhash/s at current difficulty.

tyson187
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January 10, 2014, 01:13:55 AM
 #291

with such huge premine. the OP is forced to give away a lot. hence i will wait for them. why mine. when i can easy get double of it via giveaways.

Adding signature to your posts is currently worth two hours of hashing at 1mh/s.

what will be the Special reward on block 1337
why block 1337 ?

13 370 000.

Code:
  if(nHeight == 1337)
    return 13370000*COIN; //the 1337 block

thanks for the info ,now I hope my pool finds that block Cheesy
.Batman. (OP)
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January 10, 2014, 01:20:59 AM
 #292

with such huge premine. the OP is forced to give away a lot. hence i will wait for them. why mine. when i can easy get double of it via giveaways.

Adding signature to your posts is currently worth two hours of hashing at 1mh/s.

what will be the Special reward on block 1337
why block 1337 ?

13 370 000.

Code:
  if(nHeight == 1337)
    return 13370000*COIN; //the 1337 block

That's 222 X the normal block reward. Ten times more than what you can mine in a day at 20mhash/s at current difficulty.



and we are holding the bounties on the pools to make sure they will pay it all out to the gotham citizens!

account has been hacked and ownership has been restored! this act has reincarnated us so stay tuned for updates!
kke
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January 10, 2014, 01:23:58 AM
 #293

thanks for the info ,now I hope my pool finds that block Cheesy

At 90s block time it will happen after 54 days. Are you still going to mine it then? Smiley
.Batman. (OP)
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January 10, 2014, 01:26:05 AM
 #294

thanks for the info ,now I hope my pool finds that block Cheesy

At 90s block time it will happen after 54 days. Are you still going to mine it then? Smiley


the target is 960 blocks daily
so it should happen earlier,the diff is adjusting to hit the 960 blocks per day number
p.s
the diff right now is 13.4
only 2.5 hours after the launch

account has been hacked and ownership has been restored! this act has reincarnated us so stay tuned for updates!
dzhenny
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January 10, 2014, 01:26:53 AM
 #295

me too!
for my signature
AkjArjheMZMzhe8nTHuWnfmLfwGgPZG7sZ
 Kiss
MisO69
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January 10, 2014, 01:27:37 AM
 #296

With all of these new coins coming out, why would I mine a pre-mined one?  Huh More value is zero premine coins.
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January 10, 2014, 01:32:30 AM
 #297

With all of these new coins coming out, why would I mine a pre-mined one?  Huh More value is zero premine coins.
+1
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January 10, 2014, 01:37:30 AM
 #298

Not enough post to sign  Embarrassed
quarkkid
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January 10, 2014, 01:37:55 AM
 #299


My reputation thread!! ...https://bitcointalk.org/index.php?topic=419456.0
C A Ix > >   CAIx-- Xt7qWX6LTAURHZYzjenTBNfViztCz2z72U
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January 10, 2014, 01:38:26 AM
 #300

that was one of the smoothest launches i have seen on this forum
keep it up batman!
pm'ed you my wallet address

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